Sales up just 5% at Iconix Brand in Q2

Iconix Brand Group Inc. announced financial results for the second quarter ended June 30, 2012.

Q2 2012 results for Iconix Brand Group, Inc.:

Total revenue for the second quarter of 2012 was approximately $93.6 million, a 5% increase as compared to approximately $89.3 million in the second quarter of 2011. Total revenue includes approximately $5.6 million related to the completion of the Company's new joint venture in India.

On a non-GAAP basis, net income attributable to Iconix for the second quarter was approximately $32.4 million, as compared to approximately $32.3 million the prior year quarter. Non-GAAP diluted EPS for the second quarter was $0.45 compared to $0.43 in the prior year quarter. EBITDA attributable to Iconix for the second quarter was approximately $58.4 million, as compared to approximately $58.1 million in the prior year quarter.

Free cash flow attributable to Iconix for the second quarter was approximately $51.9 million, an 11% increase over the prior year quarter.

GAAP net income attributable to Iconix and diluted EPS in the second quarter of 2011 included a non-cash, non-recurring gain of approximately $21.5 million related to the Company's acquisition of the global master license of the Ed Hardy brand. 

GAAP net income attributable to Iconix for the second quarter was approximately $28.6 million, as compared to $41.5 million in the prior year quarter and GAAP diluted EPS was $0.40 compared to $0.55 in the prior year quarter.  

Six months ended June 30, 2012:

Total revenue for the six months ended June 30, 2012 was approximately $182.1 million, as compared to approximately $181.6 million for the prior year period. EBITDA attributable to Iconix for the six month period was approximately $115.2 million as compared to approximately $116.9 million in the prior year period.

Free cash flow attributable to Iconix for the six month period was approximately $99.4 million, a 7% increase over the prior year period. On a non-GAAP basis, net income attributable to Iconix for the six month period was approximately $64.4 million as compared to approximately $66.1 million in the prior year period, and non-GAAP diluted earnings per share was approximately $0.88 for the six month period versus $0.88 for the prior year period.

As mentioned above, GAAP net income attributable to Iconix and diluted EPS for the prior period included a non-cash, non-recurring gain of approximately $21.5 million.  On a GAAP basis, net income attributable to Iconix was approximately $56.2 million as compared to $73.0 million in the prior year period and GAAP diluted earnings per share was $0.76 versus $0.97 for the prior year period.